Chancellor Financial Group WB LP purchased a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 783 shares of the company's stock, valued at approximately $258,000.
Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in GE Vernova in the 4th quarter worth approximately $1,109,720,000. Capital International Investors increased its stake in shares of GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of GE Vernova by 1,638.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock worth $432,309,000 after purchasing an additional 1,238,690 shares during the last quarter. FMR LLC increased its stake in shares of GE Vernova by 3.4% during the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after purchasing an additional 814,155 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of GE Vernova by 148.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company's stock worth $379,974,000 after purchasing an additional 690,513 shares during the last quarter.
GE Vernova Price Performance
Shares of GE Vernova stock traded up $0.39 during trading on Friday, hitting $471.56. 5,090,753 shares of the company's stock traded hands, compared to its average volume of 3,356,775. The firm's fifty day moving average price is $369.12 and its 200 day moving average price is $354.21. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $489.13. The company has a market cap of $128.71 billion and a PE ratio of 84.81.
GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the firm posted ($0.47) EPS. The firm's quarterly revenue was up 10.6% on a year-over-year basis. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.
GE Vernova Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova's dividend payout ratio is presently 14.41%.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. Marathon Capitl upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Friday, January 31st. CICC Research assumed coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They issued an "outperform" rating on the stock. BMO Capital Markets raised their target price on shares of GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a research note on Friday. Guggenheim reiterated a "buy" rating and issued a $380.00 target price on shares of GE Vernova in a research note on Thursday, April 24th. Finally, Truist Financial set a $440.00 target price on shares of GE Vernova in a research note on Thursday, March 27th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $385.78.
Read Our Latest Stock Report on GEV
About GE Vernova
(
Free Report)
GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.
Recommended Stories
Before you consider GE Vernova, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and GE Vernova wasn't on the list.
While GE Vernova currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
